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Bedeutung digitaler Ökosysteme für Versicherungsunternehmen auf Basis einer Conjoint-Analyse

Bedeutung digitaler Ökosysteme für Versicherungsunternehmen auf Basis einer Conjoint-Analyse
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Year:    2023

Author:    Bennardo, Luca, Pohl, Philipp

Zeitschrift für die gesamte Versicherungswissenschaft, Vol. (2023), Online First : pp. 1–20

Abstract

Initially, digitalization in the insurance industry was only insufficiently understood as an opportunity, since the underlying business model – the hedging of risks – did not seem to allow any innovative changes. However, due to the emergence of successful technology insurance start-ups and the interest of large technology companies in the industry, digitalization has also become increasingly important in the insurance market. Current trend topics include new forms of risk analysis using AI, the transformation of IT to the cloud and the trend towards digital ecosystems, which importance should be analyzed by this study beyond existing sources.

In addition to the studies already available in science and practice, the use of digital ecosystems was statistically evaluated in this work for health insurance using a corresponding market survey and a conjoint analysis as a research method which – in this specific context – has not yet been used before. The results show that the characteristics of prices and service performance continue to be the most important aspects for policyholders, but that ecosystem integration is to be classified well ahead of organizational aspects such as forms of contract and policy-administration as well as the size of the insurer’s company. The maximum level of ecosystem integration is also able to fully compensate for average performance values and slightly higher costs. The product of an insurer in a digital ecosystem with average costs and services with otherwise maximum characteristics achieves a total utility value of 86.54 % of the optimal product, whereas a product with below-average costs and maximum service performance without ecosystem integration achieved just 79.57 % of the optimum among the 72 subjects surveyed.

The recommendation for insurers to be derived from this is the establishment of their own ecosystems (for large insurance groups) or the integration of their own company in external ecosystems of a digital nature (for small and medium-sized companies). The prerequisites for a successful participation in digital partnerships are the establishment of the technical as well as the business framework. This includes standardizing or modernizing the IT landscape using cloud computing and focusing on the main business area with the aim of achieving a product leadership.

Journal Article Details

Publisher Name:    Global Science Press

Language:    German

DOI:    https://doi.org/10.3790/zverswiss.2023.10.Bennardo.Pohl

Zeitschrift für die gesamte Versicherungswissenschaft, Vol. (2023), Online First : pp. 1–20

Published online:    2023-08

AMS Subject Headings:    Duncker & Humblot

Copyright:    COPYRIGHT: © Global Science Press

Pages:    20

Author Details

Bennardo, Luca

Pohl, Philipp

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